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Sentiment · FY2026 Q2
| Analyst | Firm | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| Peter Galbo | Bank of America | 9 | 22% |
| Jim Salera | Stephens | 9 | 0% |
| Andy Lazar | Barclays | 7 | 14% |
| Rob Moskow | TD Cowen | 7 | 29% |
| Ken Goldman | JPMorgan | 6 | 33% |
| Tom Palmer | JPMorgan | 5 | 0% |
| Mike Lavery | Piper Sandler | 5 | 20% |
| Megan Clapp | Morgan Stanley | 4 | 25% |
| Dave Palmer | Evercore ISI | 3 | 33% |
| Max Gumport | BNP Paribas | 2 | 100% |
| Firm | Analysts | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| JPMorgan | 2 | 11 | 18% |
| Bank of America | 1 | 9 | 22% |
| Stephens | 1 | 9 | 0% |
| Barclays | 1 |
| 7 |
| 14% |
| TD Cowen | 1 | 7 | 29% |
| Piper Sandler | 1 | 5 | 20% |
| Morgan Stanley | 1 | 4 | 25% |
| Evercore ISI | 1 | 3 | 33% |
Campbell's Q2 FY2026 marked the lowest point in the company's recent trajectory, with Snacks margin collapsing to 7% on deleverage from -6% organic net sales decline and Fresh Bakery execution disruptions. Management responded with aggressive cash preservation measures — eliminating buybacks, freezing the dividend, cutting CAPEX $50M, and announcing a new $100M overhead reduction program — while significantly lowering full-year guidance. The bright spot was Rao's delivering 14.5% consumption growth during the holiday quarter, but it wasn't enough to offset the severity of Snacks deterioration and intensifying competitive pricing pressure from the category leader's permanent everyday price reductions.
Demand | Margin | Competitive Dynamics | Pricing | Guidance Reliability | Revenue Growth | Cost Pressure | Trade Tariffs | |
|---|---|---|---|---|---|---|---|---|
| 2025Q1 | 3 | 2 | 3 | 3 | 1 | 3 | 1 | |
| 2025Q2 | 3 | 3 | 2 | 1 | 3 | 1 | 1 | 1 |
| 2025Q3 | 4 | 2 | 2 | 1 | 2 | 1 | 1 | 2 |
| 2025Q4 | 3 | 2 | 1 | 1 | 1 | 2 | 2 | 4 |
| 2026Q1 | 3 | 2 | 2 | 1 | 1 | |||
| 2026Q2 | 6 | 6 | 5 | 4 | 4 | 1 | 1 |
| '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | '26Q2 | |
|---|---|---|---|---|---|---|
| Demand | 3 | 3 | 4 | 3 | 3 | 6 |
| Margin | 2 | 3 | 2 | 2 | 2 | 6 |
| Competitive Dynamics | 3 | 2 | 2 | 1 | 2 | 5 |
| Pricing | 3 | 1 | 1 | 1 | 1 | 4 |
| Guidance Reliability | 1 | 3 | 2 | 1 | 4 | |
| Revenue Growth | 3 | 1 | 1 | 2 | 1 | |
| Cost Pressure | 1 | 1 | 1 | 2 | 1 | 1 |
| Trade Tariffs | 1 | 2 | 4 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
CPB Campbell Soup Company | 1 | -4.5% | |
| CAG Conagra Brands | 5 | -1.9% | |
| GIS General Mills | 4 | -8.4% | |
| HRL Hormel Foods | 6 | +2.5% | |
| KHC Kraft Heinz | 4 | +0.8% | |
| MKC McCormick & Company | 6 | +16.7% | |
| SJM J.M. Smucker Company (The) | 5 | +7.0% |